Two Nations Want to Engage in Trade but Discover That

question 62

Multiple Choice

Two nations want to engage in trade but discover that one of them is more efficient in producing all goods.In this case,

• A)each nation should export the good in which it has a comparative advantage.
• B)no trade is possible.
• C)the more efficient country should produce all goods and export them.
• D)the less efficient country should engage in importation of goods only.
• E)the more efficient country should import all goods.

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Definitions:

Marketing Mix

The set of actions, or tactics, that a company uses to promote its brand or product in the market, commonly encapsulated by the four Ps: Product, Price, Place, and Promotion.

Customer Service

The assistance and support provided by a company to those who use or buy its products or services, aiming to ensure satisfaction and address any concerns.

Sufficient Stimulus

A stimulus that is adequate to elicit or evoke a response or behavior.

Response Exemplars

Specific examples of behaviors that are demonstrated as responses to particular stimuli or situations.